Q1 decline for Clear Channel


Like most media companies, CC Media Holdings, the parent company of Clear Channel Communications, saw revenues fall by double digit percentages in Q1. Radio revenues fell 22% to $603.6 million. Outdoor was hit even harder, down 25% to $582.2 million.

Clear Channel management’s favorite metric is operating income before depreciation, amortization and non-cash compensation expense (OIBDAN). Radio OIBDAN plunged 50% to $138.1 million and outdoor 46% to $87.7 million.